TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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November 22, 2021
Source: GlobeNewswire
CINCINNATI, Nov. 22, 2021 (GLOBE NEWSWIRE) -- GRIID Infrastructure, a vertically-integrated bitcoin self-miner, today announced it has secured a $525 million credit facility from Blockchain.com, one of the world's oldest and most trusted cryptocurrency platforms with over $5 billion in loan originations. GRIID specializes in procuring low-cost, carbon-free energy to build, manage, and operate a growing portfolio of U.S. based bitcoin mining facilities.
The four-year term credit facility will assist GRIID in extending its proven execution capabilities to greater scale, bringing on additional mining capacity, and capitalizing on over 1,300 megawatts of available power from existing energy generation partners.
“Blockchain.com is an established leader in the digital asset space with unique knowledge into every aspect of the crypto ecosystem, including mining operations,” said Trey Kelly, GRIID Founder and CEO. “Blockchain.com is an ideal capital partner as we strengthen our infrastructure and operations across our growing portfolio of bitcoin mining facilities.”
Since 2017, Blockchain.com’s Institutional Markets team has originated some of the largest credit facilities in the market, establishing itself as a premier capital partner within the digital asset industry. Best-in-class pricing and custom solutions are made possible by a large balance sheet, deep market expertise and a willingness to be a value-added capital partner.
“For the past two years we’ve worked closely with GRIID to not just provide capital, but to be a partner invested in the growth of the business,” said Peter Smith, Blockchain.com CEO. “It’s incredible to see their trajectory and we are confident that GRIID is well positioned to become a dominant U.S. based bitcoin miner. We’re excited to continue to partner with them to grow their company and the industry in the coming years.”
About GRIID
GRIID, an American infrastructure company, is a vertically-integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. With its unique vertically-integrated business model and power pipeline, GRIID is leading the global effort to support the bitcoin network and carbon-free energy markets. To learn more, visit griid.com
About Blockchain.com
Blockchain.com is connecting the world to the future of finance. The London and Miami-based company, with an international team spread across the world, is the most trusted and fastest growing crypto company, helping millions across the globe safely access cryptocurrency. Venture backed since 2014, Blockchain.com has raised $537M of equity, valued at $5.2B. Visit Blockchain.com for more info, follow us on Twitter @blockchain, check out The Blockchain.com Podcast, and read our blog for the latest company news. For more information on Blockchain.com lending, visit https://www.blockchain.com/institutional.
Contacts:
Susan Donahue
Skyya PR for GRIID
ph: (646) 454-9378
susan.donahue@skyya.com
Brooks Wallace
Blockchain.com
brooks@blockchain.com
